
And now, after a 17% drop from its 52-week high, its valuation looks quite reasonable.
This is one of America’s best businesses, period. And with a market-beating yield, a double-digit long-term dividend growth rate, a low payout ratio, 60 consecutive years of dividend increases, and the potential that shares are 12% undervalued, long-term dividend growth investors looking for a good deal on a high-quality Dividend Aristocrat should have their eyes on this name.